CU Condo Puts Out the Welcome Mat

HONOLULU – Could condos be credit union facilities of the future? Two Hawaii credit unions are banking on it to offer more member convenience. Honolulu City & County Employee’s Federal Credit Union and Honolulu Federal Employees’ Federal Credit Union have joined forces to build a five-story credit union condominium, complete with a state-of-the-art data center and a six-story parking garage. Designed by Ushijima Architects Inc., the facility will house HCCEFCU on the fourth and fifth floors and the HFEFCU on floors two and three, but the CEOs of both credit unions hope other credit unions will join them. According to HFEFCU President/CEO Warren Nakamura each floor will be sold separately. Located on the top floor is the data center, which will be leased out to several local credit unions. With a focus on safety and security of systems, the center will feature raised floors, an inert-gas fire extinguishing system, climate control and biometrics security. At an estimated cost of $10 million, construction is scheduled to begin in February 2003. According to HCCEFCU President/CEO Wallace Watanabe, the data center will be a priority and should be up and running a year before the rest of the building is ready for move-in during the first quarter of 2004.